[GNC] Loan repayments created not matching

[Jason Seegers]

Ok, actually I figured it out now.

When using the repayment creator thing, there is a step where you have to select the start date and the total number of payments. The software calculates the remaining periods which i simply ignored and left as it. I changed it back to match the total number of payments and this sorted the problem out. Now the entries created matched what the system calculates.

Very bizarre. I think this is a bug but perhaps I am misunderstanding the screen I am looking at.
________________________________
From: Jason Seegers <jason.online at outlook.com>
Sent: 04 November 2024 15:16
To: David H <hellvee at gmail.com>
Cc: gnucash-user at gnucash.org <gnucash-user at gnucash.org>; stepbystepfarm at comcast.net <stepbystepfarm at comcast.net>
Subject: Re: [GNC] Loan repayments created not matching

Good to know that it works.

In response to Stephens email, the main formula is pmt( 0.06690 / 12.00 : 96.00 : 28,050.00 : 0 : 0 ).

How would I check the individual transactions formula and what should I be looking out for?
________________________________
From: David H <hellvee at gmail.com>
Sent: 04 November 2024 14:05
To: Jason Seegers <jason.online at outlook.com>
Cc: gnucash-user at gnucash.org <gnucash-user at gnucash.org>; stepbystepfarm at comcast.net <stepbystepfarm at comcast.net>
Subject: Re: [GNC] Loan repayments created not matching

Your images came through fine for me using gmail in the web browser and are also present in the archive  - https://lists.gnucash.org/pipermail/gnucash-user/2024-November/114010.html :-)

Cheers David H.

On Tue, 5 Nov 2024 at 05:10, Jason Seegers <jason.online at outlook.com<mailto:jason.online at outlook.com>> wrote:
Hi,

https://imgur.com/a/z2iKDyl
[https://i.imgur.com/VhOjOm7.png?fb]<https://imgur.com/a/z2iKDyl>
imgur.com<http://imgur.com/><https://imgur.com/a/z2iKDyl>
Discover the magic of the internet at Imgur, a community powered entertainment destination. Lift your spirits with funny jokes, trending memes, entertaining gifs, inspiring stories, viral videos, and so much more from users.
imgur.com<http://imgur.com/>


I've only just realised now that the images I put in didn't actually remain as part of the email when I sent it. So above is an imgur link for the images.

Basically, it is the system not posting what it says it will which I can't wrap my head around. I am not expecting the calculation to be the same as the bank, this is simply that the software is posting a different amount to what it tells me and the reality is the result it posts is completely wrong but the preview it provides for the result is actually correct.

Example (in case images done work in imgur link) for period 1 or 1st payment.

System calculates payment 1 as: 338 split as 199 for capital and 139 for interest
System then posts: 338 split as 255 for capital and 83 for interest

As you can see, this is completely incorrect and I don't understand why it isn't posting the numbers it is calculating?
________________________________
From: gnucash-user <gnucash-user-bounces+jason.online=outlook.com at gnucash.org<mailto:outlook.com at gnucash.org>> on behalf of Michael or Penny Novack via gnucash-user <gnucash-user at gnucash.org<mailto:gnucash-user at gnucash.org>>
Sent: 04 November 2024 09:27
To: gnucash-user at gnucash.org<mailto:gnucash-user at gnucash.org> <gnucash-user at gnucash.org<mailto:gnucash-user at gnucash.org>>
Subject: Re: [GNC] Loan repayments created not matching

On 11/3/2024 5:20 PM, Jason Seegers wrote:
> Hi,
>
> Not sure what I am doing wrong here but when I use the loan repayment calculator as per the screenshots below, the transactions created don’t match what I am shown and I am stumped as to why.
>
> Any ideas to get this to actually agree?

How far off?

If a small discrepancy, the "why" is very simple. There is NOT one
correct way to do the calculation and so no way to expect the result
from the calculation the loan provider used will match the result from
the calculation gnucash uses. There are a number of ASSUMPTIONS being
made (one of the largest, how is the end of the loan handled if, as
usual, not going to come out even).

You simply can't expect exact agreement.

Now as to the two amortizations shown in the screen shots, more useful
would be the # of each "rent" (periodic payment). We have no way of
knowing if those absolute dates correspond. In other words, we DON'T
know if 3/21 is the nth payment on each. Since you are presumably
dealing with loan start in the past, do you have that past lined up?

Michael D Novack

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